A whole lot of money is sitting around on the “Oil Wells of Instagram” and only the smart miners have found a way to make money from Instagram.
I don’t know if you are one of those “Instagram Miners” or you are like other random users that visit the photo-sharing platform to have a good laugh after watching a hilarious joke.
I wouldn’t know, honestly. So, you are in the best position to tell yourself the class of Instagram user you are in.
Are You Already Making Money on Instagram?
That notwithstanding, one thing I know very well is that you are either making money already on Instagram or you are looking to start making money from your Instagram account.
If you are already making money on the platform, I have just come up with some other ways you can earn money on Instagram. Of course, these ideas can put an additional $1,000 in your bank account when you start applying them?
Related Article: 5 Ways To Come Up With A Business Idea
Are you ready? Are you set to secure the bag and rush into Instagram with a bullion van and cart away all the funds you can get your hands on?
Then, read on let me show you how you can become an “Instagram Mafia” that makes money while working for few hours.
How to Make Money on Instagram
There is no easy way to make money. I know that. I know that you also know. That makes the two of us.
However, what separates the others Instagram users that make money from the others that do not is information.
That information is what I am about to share with you. See them below.
1. Make Money on Instagram via Sponsored Posts
Many people thrive under the impression that Sponsored Posts are only left in the hands of the “Big Guys” – Instagram and Facebook.
On the contrary, you are a big guy or a big lady too. You too can make money on Instagram by running Sponsored Posts.
Before we delve into that, I will like you to understand the background.
What Is a Sponsored Post?
A Sponsored Post is an advert that a publisher (in this case being you) runs or promotes on behalf of the advertiser (owner of the advert) in exchange for a fee.
You must have seen a couple of content coming up on your Instagram Feed and on your Facebook Timeline with the phrase “Sponsored” under it.
That’s what I mean!
The Instagram Influencer Perspective
Instead of rushing off to make use of the Facebook or the Instagram advert channels, individuals and companies tend to make use of influencers.
You must have heard of “Instagram Influencers.” These are individuals and companies that have made tremendous impacts in the lives of other people. They share valuable ideas, give to charity, and coach people.
So, they are considered influencers because they can make their points known and many people will queue up in solidarity.
That is where you come in. Are you already an Instagram influencer?
Before you answer “Yes,” I don’t mean the regular 5 to 10 comments you get when you add a new picture your Instagram profile.
Do you actually have up to 10,000+ followers? That is one the basis for becoming an Instagram influencer.
How Instagram Influencers Make Money
Instagram influencers, just like influencers on other Social Media platforms, make money by helping companies and individuals with promoting their services and products.
At some points, they may infuse their personality into it by saying “I have used this product and it works.”
So, being an Instagram influencer and using that as a medium to run Sponsored Posts/Adverts is one of the ways to make money on Instagram.
Downside to Sponsored Posts
Running Sponsored Posts may not always work in your favour. Here are some of the reasons why it may not be one of the best ways for monetizing your Instagram account:
- You need a huge following (of about 10,000 and above) to get started
- It tends to be a single source of income if you only concentrate on it
- You may struggle to remain relevant, especially when there are many other influencers in your niche
2. Set Up an E-Commerce Store
Electronic Commerce (E-Commerce) entails the initiation and the completion of business transactions over the Internet.
It can be one of the many ways you can leverage to start making money on Instagram.
Now, the idea is that you don’t necessarily need to have a physical outlet or store. All your transactions will be online. You may want to set up an E-Commerce store where you can display your available products.
Once that has been set up, the next thing is to add the URL or web address of your E-Commerce store on your Instagram profile.
Run adverts or make random posts that show what you sell. Direct the potential customers to use the web address on your Instagram profile to purchase the products they want.
3. Earn Money on Instagram by Becoming a Marketing Consultant
Indeed, there are always two sides to a coin. In the case of Instagram, there are two reasons why people visit the platform.
The first set of Instagram users are the fun-seekers. They are there to laugh at jokes.
The second category of Instagram users is the business-minded ones. They are there to secure the bag – make money. This is also where you get the category of people that want to learn how to make money from your Instagram account.
Many brands and companies are already visible on Instagram. They are looking to make more money.
Your Chances of Becoming an Instagram Influencer
Because there are more fun-seekers than business-inclined Instagram users, such brands and companies will need the help of a marketing consultant to offer valuable ideas on how to sell on Instagram.
There is never a better time to start a business. So, if you have the drive for business and you haven’t been able to make money on Instagram, it is time you position yourself as a marketing consultant.
If you are good at what you do, you will attract more brands. And the more brands that you work with, the more money you make on Instagram.
4. Package Your Expertise and Sell as a Digital Product
No two humans have the same perspective. We always learn from one another. We also learn how to get better at the things we are doing.
You can make money on Instagram by packaging your expertise and selling it as a digital product.
You are already acquainted with what physical products are. They are the types of products you can see and touch.
On the other hand, there is the digital product, which I also call the “Abstract Product.” You cannot see or touch it.
Some of the examples of digital products are:
- Electronic Books (E-Books)
- Podcasts: Recorded voice notes/recordings, which come in the form of episodes until the particular topic being discussed is completed.
How to Create your Digital Product
You can start documenting the ideas and expertise you have in specific subjects. Write them down if you want it to be an E-Book. Otherwise, record it as a podcast.
How to Market Your Digital Product
- Run adverts for the digital product to drive the potential buyers to your funnel (a place where they will see an overview of the product and enter their details – email address, phone number).
- Connect your sales page to show the detailed breakdown of the content of the digital product
- Add a payment method to receive payments for the digital product
- Attach the redirection link to where the digital product can be downloaded after payment
5. Become a Dropshipper and Make Money on Instagram
The last monetization tool for Instagram we have here is Dropshipping.
Dropshipping is a type of business whereby you don’t own a product. You are simply the middleman or intermediary between the owner of the product and the buyer.
Here is how to use it as one of the ways of making money on Instagram:
- Your job is to align with the owner of the product to help in selling the product. Once you have established the relationship and agreed on a commission to be paid to you for each sale, start scouting for buyers via your Instagram account.
- You can upload pictures of the product on your Instagram story or make a post about it. You may also want to make a review video of the product because video content has a higher engagement on Instagram.
- Attach your telephone number, email address or any other contact detail so the potential buyers can get across to you faster.
- Take the orders and send to the owner of the product.
- The owner of the product will fulfil the order/send the product to the buyer. At the end of the transaction, you will be paid the agreed commission.
Do People Get Paid on Instagram?
No, people don’t get paid on Instagram. There is nothing like “Instagram AdSense” in the right sense of the word because you are not paid for driving traffic (people) to your Instagram account just like Google AdSense works for blogging.
Instead, you need to be creative and start looking for problems or challenges that you can solve for a fee.
I have given you a heads-up with the tips above. I am sure you now have an idea of some of the ways to earn money on Instagram.
If you want to get started with any of the ideas and you want to be coached, you can use the Contact Form below to get across to me.
I will reply you without delays.
What other ways do you think will help you make money as an Instagram user?